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Can foreigners buy property in Montenegro?

18th May 2019

There are no legal restrictions on foreigners buying property in Montenegro, in fact, they receive equal legal treatment as local buyers. There are certain limitations, such as having to purchase land through a company but considering all other factors, especially taxation, we feel the best way to purchase land for development is through the company. Introduction of notary service has further simplified the process but also added further security for the buyer. This introduction has also made the redundand the reqirement for a lawyer which reduces the transaction costs.

WHY IS THE NOTARY SERVICE SO IMPORTANT FOR THE BUYER?

The notary guarantees transactions with its own property! Its purpose is to protect both buyer and the seller, making sure that both sides come out of the transaction satisfied. The notary checks the documentations, prepares the agreements, wanrs the parties should there be any need and files the required documentation necessary for registration to the buyers name.

WHAT DOCUMENTS ARE REQUIRED?

Should you wish to purchase a property in Montenegro, all you need is your passport. In case you wish to buy through a company, a notarized and appostiled Power of Attorney is required (if you do not have authorisation to execute such a transaction), along with registration documents of the company, showing the person issuing the PoA is authorised to issue such an instrument. Should you wish to authorise someone to buy on your behalf (Agent or Lawyer), the notarized and appostiled Power of Attorney is a requirement.

WHAT ARE THE OTHER BENEFITS?

Depending on which country you come from, there is more than likely someone speaking your language here but in all cases English speaking staff are available, therefore it is very easy to communicate and conclude deals.

Should you have more questions on buying property in Montenegro, please check out our BUYING GUIDE .

About IM Property Group

IM Property Group is  Property Adviser and an Investment Specialist operating in Montenegro.

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IM Group Limited

Ulica XVI Zgrada CFSSI
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85310 Budva
Montenegro





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